More than a thousand retail businesses have hit the buffers in the past year, with more failures expected due to poor Christmas trading.

In the 12 months to November 30, 1,087 non-food retailers have collapsed, a 17 per cent increase on last year’s figures, according to research company Experian.

The figures include the administrations of Woolworths and MFI last week.

Experian chief economist Matthew Sherwood said there was “little relief in sight” for struggling retailers.

“This downturn has much further to run and UK shoppers will be watching their pennies in the year ahead,” said Sherwood.

Last week John Lewis said the collapse of MFI and Woolworths hit consumer confidence and affected sales, which were down 13 per cent in the week to November 29 compared to the same period last year.

Topics